Which international financial institution has invested $105 million in the non-convertible debenture of Brookfield’s Bikaner Solar Power project in Rajasthan?

The International Finance Corporation (IFC) has agreed to invest $105 million (around Rs 871 crore) in the non-convertible debentures of Brookfield’s Bikaner Solar Power project in Rajasthan.

IFC is a company of the World Bank Group which provides finance to the private sector companies.

Brookfield Global Transition Fund (BGTF) is building a 550 MW solar power project in Bikaner in two phases.

The Brookfiled commissioned the first phase of the Bikaner solar power project 268 MW in March 2024.

In the second phase the capacity of the solar power project is 282 MW taking the combined power generation capacity to 550 MW.

The estimated cost of the second phase is estimated to be USD 317 million.